South Florida investors with claims on small-cap company Vicor Technologies are attempting to push the company into chapter 7 involuntary bankruptcy, alleging mismanagement by current executives, the South Florida Business Journal reported yesterday. The investors include the company's former CEO. Based in Boca Raton until recently, Vicor is a relatively new medical technology company that collected $30 million from investors starting in 2000. Vicor ran out of cash around May 2011 following the settlement of a shareholder derivative lawsuit. Several executives resigned in December 2011, and they are among the petitioners seeking to put Vicor into bankruptcy. The company's current CEO has rejected their claims, indicating that he is working toward turning the company around. The creditors are also seeking the appointment of a trustee to take over the company, alleging that Vicor has $13 million in outstanding debts.
